• A
  • A
  • A
  • АБВ
  • АБВ
  • АБВ
  • A
  • A
  • A
  • A
  • A
Обычная версия сайта
  • RU
  • EN
  • HSE University
  • Publications
  • Articles
  • Dynamic connectedness between global commodity sectors, news sentiment, and sub-Saharan African equities
  • RU
  • EN
Расширенный поиск
Высшая школа экономики
Национальный исследовательский университет
Priority areas
  • business informatics
  • economics
  • engineering science
  • humanitarian
  • IT and mathematics
  • law
  • management
  • mathematics
  • sociology
  • state and public administration
by year
  • 2027
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
  • 2001
  • 2000
  • 1999
  • 1998
  • 1997
  • 1996
  • 1995
  • 1994
  • 1993
  • 1992
  • 1991
  • 1990
  • 1989
  • 1988
  • 1987
  • 1986
  • 1985
  • 1984
  • 1983
  • 1982
  • 1981
  • 1980
  • 1979
  • 1978
  • 1977
  • 1976
  • 1975
  • 1974
  • 1973
  • 1972
  • 1971
  • 1970
  • 1969
  • 1968
  • 1967
  • 1966
  • 1965
  • 1964
  • 1963
  • 1958
  • More
Subject
News
May 25, 2026
HSE Scientists Train Neural Network to 'Hear' Faults in Electric Motors
Researchers at the AI and Digital Science Institute of the HSE Faculty of Computer Science have developed a new method—the Signature-Guided Data Augmentation (SGDA) framework—that achieves 99% accuracy in motor fault detection and 86% accuracy in fault classification. The application of this approach can reduce industrial equipment repair costs, minimise downtime, and improve production safety. The study results have been published in Engineering Applications of Artificial Intelligence.
May 25, 2026
'The Humanities Serve as a Conscience'
Maria Mizernaia studies Soviet literature and the history of book publishing. In this interview for the HSE Young Scientists project, she discusses plans to publish a novel about besieged Leningrad, AI-provoked reflections on what it means to be human, and how novels can help satisfy our dopamine hunger.
May 25, 2026
Is It Possible to Predict a Citys Life Based on the Shape of Its Neighbourhoods?
Is it possible to predict, based on the configuration of streets and buildings, where a café will open or where traffic congestion will occur? Participants in the Spatial Analysis and Modelling of Urban Processes research and study group use open data and machine learning to identify universal patterns. Alexander Sheludkov and Eduard Somov discuss the purpose of comparing cities, the need for new forms of urban statistics, and how open data is transforming approaches to urban studies.

 

Have you spotted a typo?
Highlight it, click Ctrl+Enter and send us a message. Thank you for your help!

Publications
  • Books
  • Articles
  • Chapters of books
  • Working papers
  • Report a publication
  • Research at HSE

?

Dynamic connectedness between global commodity sectors, news sentiment, and sub-Saharan African equities

Emerging Markets Review. 2023. Vol. 56. Article 101049.
Agyei S. K., Umar Z., Bossman A., Teplova T.

We examine the static and time-varying spillovers between global commodity sectors, economic news sentiment, and sub-Saharan African (SSA) equities. In a time-varying parameter vector autoregressions spillover connectedness approach, we find that: (i) there are significant spillovers between SSA equities, economic news sentiment, and global commodity sectors; (ii) the connectedness evolves across different times and is amplified by market crises; (iii) there are suitable market-specific SSA equities that bear safe-haven and hedge attributes for global commodity investors; (iv) agriculture is the main source of return and volatility spillovers; and (v) economic news sentiment index is a net transmitter of spillover during systemic crisis periods such as GFC and the COVID-19 pandemic. Our findings have notable implications for international investors, regulators, and practitioners.

Research target: Economics and Management
Language: English
Full text
DOI
Keywords: развивающиеся рынкиemerging marketsТропическая Африкарынки акцийSub-Saharan AfricaSpillover connectednessCommodity sectorsEconomic news sentimentEquities marketsсектор сырьевых товаровновостной сентимент относительно экономикивзаимосвязанность рынков
Similar publications
Почему растущие доходы не делают людей счастливее: эмоциональное объяснение парадокса Истерлина
Vorchik A., Вопросы экономики 2026
This work is devoted to a theoretical explanation of the Easterlin paradox, according to which long-term economic growth does not make average level of people's happiness increasing. By happiness, we mean the intensity of emotions people experience while comparing their new income with its expected value, or the target income with its original value. In the first case, ...
Added: May 28, 2026
Defining the payback period for nonconventional cash flows: an axiomatic approach
Mikhail V. Sokolov, Engineering Economist 2026 Vol. 71 No. 2 P. 159–173
The payback period is unambiguously defined for conventional investment projects—projects in which a series of cash outflows is followed by a series of cash inflows. Its definition for nonconventional projects is more challenging, since their balances (cumulative cash flow streams) may have multiple break-even points. Academics and practitioners offer a few contradictory recipes to manage ...
Added: May 28, 2026
Sweet-taste liking is associated with preference for less risky and immediate rewards in economic decision-making
Давидович А. С., Shestakova A., Arzumanyan N. et al., Frontiers in Psychology 2026 Vol. 17 - 2026 P. 1–18
Background:  Delay discounting refers to the tendency to choose sooner, smaller rewards over larger, later rewards. Many previous studies link this tendency positively to reward sensitivity, yet the specific mechanisms behind this association remain poorly understood. Reward sensitivity may relate to delay discounting through at least three possible pathways: increased sensitivity to reward size, increased sensitivity ...
Added: May 27, 2026
Система национальных счетов 2025 года: Обзор основных методологических изменений
Tatarinov A., Вопросы статистики 2026 Т. 33 № 2 С. 5–22
The relevance of the article stems from the ongoing transition of national statistical offices to the implementation of the new international macroeconomic accounting standard, SNA 2025. This standard defines modern approaches to measuring economic activity in the context of globalization and digitalization and incorporates assessments of well‑being and sustainability. The subject of the paper is the ...
Added: May 27, 2026
БАЗОВЫЕ ТАБЛИЦЫ «ЗАТРАТЫ-ВЫПУСК» ЗА 2021 ГОД: НЕКОТОРЫЕ АСПЕКТЫ ПРИМЕНЕНИЯ В ИССЛЕДОВАНИЯХ
Kalinin A. M., Проблемы прогнозирования 2026 № 1 С. 45–55
Rosstat's publication of basic input–output tables for 2021, given the five-year periodicity of such materials, represents a significant event for Russian economic science. The article provides an overview of some of the features and properties of the published tables and the results of their use for the analysis of technological changes and import dependence. It ...
Added: May 26, 2026
Китай как новая экономическая империя: проблемы роста и модели взаимодействия с государствами Глобального Юга
Романова В. В., Tkachuk A., Экономические науки 2026 № 2 С. 561–565
Актуальность статьи обусловлена трансформацией мирохозяйственных связей под влиянием Китая. Степень разработанности отражена в полярных оценках экспансии КНР. Объект — экономическая экспансия Китая, предмет — модели взаимодействия со странами Глобального Юга. Методология базируется на геоэкономическом подходе и концепции асимметричной взаимозависимости. Практическая значимость заключается в выявлении рисков долговой и технологической зависимости и рекомендациях для стран-партнеров по выстраиванию сбалансированного сотрудничества. ...
Added: May 26, 2026
ОЦЕНКА ВОЗДЕЙСТВИЯ АДРЕСНЫХ (ПЕРСОНАЛЬНЫХ) САНКЦИЙ США НА РОССИЙСКИЕ КОМПАНИИ В 2014-2023 ГГ.
Kalinin A. M., Вопросы экономики 2025 № 8 С. 26–43
The study of the consequences of the application of individual sanctions instruments at the level of industries or segments of the economy allows us to assess the components and factors of overall sustainability, the effectiveness of the state policy. The paper provides an econometric assessment of the impact of US SDN list sanctions on Russian ...
Added: May 26, 2026
Факторы инвестиционной активности в российской экономике: выводы 2022 г.
Kalinin A. M., Проблемы прогнозирования 2024 № 1(202) С. 35–53
The dynamics of the Russian economy in 2022 did not develop along the trajectories expected in most forecasts. Investments in fixed assets, contrary to expectations, decreased slightly; some industries have seen growth. The article offers an analysis of the 2022 results from the point of view of justification of views on the factors determining investment ...
Added: May 26, 2026
ИМПОРТОЗАВИСИМОСТЬ И ИМПОРТОЗАМЕЩЕНИЕ В РОССИИ: ОЦЕНКА НА ОСНОВЕ ТАБЛИЦ РЕСУРСОВ И ИСПОЛЬЗОВАНИЯ
Kalinin A. M., Проблемы прогнозирования 2024 № 2 С. 21–33
The article discusses issues related to the assessment of import dependence and the results of the import substitution policy in the period 2016–2020. An overview of options for assessing import dependence indicators is provided, and the possibility of using resource and use tables published by Rosstat is substantiated. The main analysis tool is calculated tables ...
Added: May 26, 2026
ЧЛЕНСТВО РОССИИ В ВТО: ОЦЕНКА ВОЗДЕЙСТВИЯ НА ВНЕШНЮЮ ТОРГОВЛЮ
Kalinin A. M., Вопросы экономики 2023 № 7 С. 100–114
The paper assesses some of the consequences of Russia’s accession to the World Trade Organization (WTO). Whereas much discussion about its costs and benefits happened during the WTO negotiations and in the first years after the accession, there was little said on the real consequences afterwards. The aim of the research is to assess the ...
Added: May 26, 2026
СОКРАЩЕНИЕ ИНОСТРАННОГО ПРИСУТСТВИЯ В РОССИЙСКОЙ ОБРАБАТЫВАЮЩЕЙ ПРОМЫШЛЕННОСТИ: РЕЗУЛЬТАТЫ 2022 Г. И БЛИЖАЙШИЕ ПЕРСПЕКТИВЫ
Kalinin A. M., Общество и экономика 2023 № 4 С. 53–63
The withdrawal of foreign companies from the Russian market due to a change in the political situation has been a new trend for the Russian economy. The study shows that the actual scale of closure of foreign legal entities is insignificant, and even smaller than in previous years: the maximum number of legal entities was ...
Added: May 26, 2026
ИСПОЛЬЗОВАНИЕ ПРИНЦИПА КЛИЕНТОЦЕНТРИЧНОСТИ В ГОСУДАРСТВЕННОМ УПРАВЛЕНИИ: ПОВЕСТКА ВНЕДРЕНИЯ
Kalinin A. M., Вопросы государственного и муниципального управления 2023 № 3 С. 7–25
Customer-centricity (client-centricity) is a new concept for Russian public governance. However, since 2022, the implementation of the relevant principles has been brought to the level of a national strategic initiative. The article proposes an analysis of the issues to be considered when implementing customer-centricity in the practice of government agencies and institutions. The article examines ...
Added: May 26, 2026
Оценка влияния внешних факторов на цифровую зрелость органов государственного управления в субъектах Российской Федерации
Styrin E. M., Ataeva A., Жатикова Д. В. et al., Регион: Экономика и Социология 2026 № 2(130) С. 31–55
There remains a pronounced interregional differentiation in the level of digital development across the Russian Federation, which necessitates a comprehensive analysis of the factors influencing the digital maturity of public administration bodies in the country’s regions. This article offers a quantitative assessment of the impact of external socioeconomic, institutional, and technological factors on the level ...
Added: May 26, 2026
Reliability and Statistics in Transportation and Communication: Ecosystems for Smart Connectivity and Intelligent Mobility. Selected Papers from the 25th International Multidisciplinary Conference on Reliability and Statistics in Transportation and Communication, RelStat-2025, October 16–18, 2025, Riga, Latvia
Switzerland: Springer Publishing Company, 2026.
In this volume of “Lecture Notes in Networks and Systems” we are pleased to present the proceedings of the 25th International Multidisciplinary Conference on Reliability and Statistics in Transportation and Communication” (RelStat-2025), which took place in hybrid form in Riga, Latvia on October 16–18, 2025. This event belongs to a con ference series started in ...
Added: May 25, 2026
Demand for consumer loans in Russia: How strong is the interest rate channel of monetary policy?
Шелованова Т. И., Синяков А. А., Russian Journal of Economics 2025 No. 11 P. 47–75
The booming retail trade and the above-target consumer prices inflation in 2023–2024 in Russia, amid tightening monetary policy stance, raise an issue of the strength of the monetary policy interest rate channel. The focus of our paper is the interest rate elasticity (given inflation expectations) of a household’s loan request probability. We argue that a ...
Added: May 25, 2026
Региональная экономика и развитие территорий : сборник научных статей. Вып. 19
Kaisarova V. P., Коклев К. С., СПб.: Издательство СПбГЭУ, 2025.
The article examines the trends in the development of territorial accessibility of public transport for the population of the largest city based on the geoinformation analysis of the spatial features of its infrastructure. The article provides a transport dynamic for the period 2015-2024 based on cluster analysis of data on individual types of transport and ...
Added: May 25, 2026
К исследованию динамики государственной состоятельности и государственной устойчивости стран "афразийской" макрозоны нестабильности в условиях трансформации мирового порядка
А.В. Коротаев, В.В. Устюжанин, Ю.В. Зинькина et al., История и современность 2025 № 3 (57) С. 21–68
The article examines the trends affecting state activity and sustainability in the countries of the Afro-Asian macro-stability zone, which are considered in the context of the transformation of the world order and the associated process of reconfiguration of the World System. An attempt has been made to use the concept of state solvency to build ...
Added: November 27, 2025
Why Do Revolutions Tend to Become Less Violent? Some Explanations of the Global Trend
Andrey Korotayev, Andrey Zhdanov, Julia Zinkina et al., Comparative Sociology 2025 Vol. 24 No. 6 P. 801–842
Revolutionary events are increasingly likely to take unarmed forms. This trend has been observed over the past 120 years as a result of the World System transformation, wherein most societies increased their GDP per capita, experienced the spread of modern formal education, and moved from predominantly rural and very young populations to mostly urban and older ...
Added: November 21, 2025
The Global South in the Kremlin’s Foreign Policy after 24/2
Simons G., Glaser M., Krivushin I. et al., Cham: Palgrave Macmillan, 2025.
This book offers the first in-depth analysis of the evolution of Russia’s relations with the Global South across political, military-political, and economic domains. Though formally part of the Global North, Russia has, since 2007, increasingly positioned itself as an independent—and often opposing—actor to the West, aligning more closely with the Global South. This volume explores ...
Added: November 8, 2025
Does time-varying risk aversion sentiment matter in the connectedness among Sub-Saharan African bond markets?
Umar Z., Bossman A., Teplova T. et al., Emerging Markets Review 2024 Vol. 61 Article 101160
Several bond markets in sub-Saharan Africa (SSA) are defaulting due to hiking spreads amid the stressed states introduced by the COVID-19 pandemic and the geopolitical risk tensions from the Russia-Ukraine conflict. Are there controllable factors that drive these markets? We investigate the dynamic connection shared by SSA bond markets and assess the role of investor ...
Added: July 17, 2024
Emerging Markets Decoded 2024
Zhuravlev A., Shuranova A., Vasenyova E. et al., M.: SKOLKOVO Moscow School of Management, 2024.
Emerging markets have driven global economic growth over the past two decades. This report bridges academic studies and business briefs, assessing the development status of emerging markets and providing tools for evaluating their growth. The report includes the Emerging Markets Decoded (EMD) Index by the Moscow School of Management SKOLKOVO, covering 114 countries and categorizing ...
Added: June 27, 2024
Ренессанс индустриализации против феномена преждевременной деиндустриализации на примере Субсахарской Африки: вопросы методологии, поиска данных и новые тренды
Tsatsenko N., В кн.: Сфера услуг в Африке: современное состояние и перспективы развития.: Институт Африки РАН, 2023. С. 42–44.
The purpose of this paper is to examine the characteristics of two opposing phenomena such as premature deindustrialization and renaissance of industrialization in Sub-Saharan Africa.  The research objectives cover the analysis of literature on the role of manufacturing and service sectors in the current stage of structural transformation. The paper focuses on discussing the arguments ...
Added: April 25, 2024
Специфика клиентоориентированности российских компаний
Rebiazina V. A., Gulakova O., В кн.: ТРАНСГРАНИЧНЫЕ РЫНКИ ТОВАРОВ И УСЛУГ: ПРОБЛЕМЫ ИССЛЕДОВАНИЯ V Международная научно-практическая конференция.: Владивосток: Издательство ДВФУ, 2023. С. 16–20.
The concept of customer orientation (CO) emerged as an integral part of the marketing concept in the 1990s. The goal of the study is to develop CO evaluation tool, considering the specifics of the Russian market. This research illustrates the stages of CO concept evolution, describes a multi-level approach to CO understanding and a multidimensional ...
Added: December 4, 2023
Does independence of board committees enhance corporate performance? The case of Russia
Zavertiaeva M. A., Shenkman E., Kazarina E., Emerging Markets Finance and Trade 2024 Vol. 60 No. 6 P. 1316–1332
This paper analyzes the service of independent directors on Board committees as a driver of corporate performance on emerging Russian market. We take a deeper look at the channels through which independent directors may influence Audit, Remuneration, Nomination, and Strategy committees’ performance. The question is tested using a sample of Russian listed public firms which ...
Added: July 4, 2023
  • About
  • About
  • Key Figures & Facts
  • Sustainability at HSE University
  • Faculties & Departments
  • International Partnerships
  • Faculty & Staff
  • HSE Buildings
  • HSE University for Persons with Disabilities
  • Public Enquiries
  • Studies
  • Admissions
  • Programme Catalogue
  • Undergraduate
  • Graduate
  • Exchange Programmes
  • Summer University
  • Summer Schools
  • Semester in Moscow
  • Business Internship
  • Research
  • International Laboratories
  • Research Centres
  • Research Projects
  • Monitoring Studies
  • Conferences & Seminars
  • Academic Jobs
  • Yasin (April) International Academic Conference on Economic and Social Development
  • Media & Resources
  • Publications by staff
  • HSE Journals
  • Publishing House
  • iq.hse.ru: commentary by HSE experts
  • Library
  • Economic & Social Data Archive
  • Video
  • HSE Repository of Socio-Economic Information
  • HSE1993–2026
  • Contacts
  • Copyright
  • Privacy Policy
  • Site Map
Edit